Nine Bronx nonprofits are set to receive $300,000 each from the estate of a former Bronx resident as part of a settlement reached by the New York Attorney General’s Office.
Attorney General Letitia James announced the roughly $4 million in funding Monday, which will go toward organizations providing health care, youth programs, arts and cultural programming, environmental work and other services throughout the borough.
The nine organizations receiving the money are Astor Services for Children and Families, Bronx Children’s Museum, Bronx Council on the Arts, Bronx River Alliance, Bronx Works, Morris Heights Health Center, New York Botanical Garden, Part of the Solution and Renaissance Youth Center.
The funding comes from the estate of Herman Price, who died in 2017 at age 96. Price left behind an estate valued at approximately $7.9 million.
Price’s will from 2002 originally directed his estate to his brother Morton Price, who died a year before. The “Price Foundation” was listed as the next beneficiary, but no organization by that name existed.
After his death, Price’s next of kin, consisting of maternal first cousins and first cousins once removed, sought to claim the estate. The Price Family Foundation, a private foundation, challenged the claim, arguing that it was the organization Price intended to receive his assets.
The dispute eventually brought in the Attorney General’s Office, which oversees charitable bequests in estates and trusts. The office intervened in the case and negotiated a settlement that divides the estate among Price’s relatives and charitable organizations in the Bronx.
“I am proud to announce $4 million in funding to support community organizations in the Bronx,” Attorney General James said.
“The programming and services these organizations provide are integral to the health, safety, and vibrance of neighborhoods from Woodlawn to Mott Haven,” James said. “I am grateful that this successful result will help ensure Mr. Price’s estate continues to serve the borough he loved.”
Under the agreement, Price’s next of kin will receive $3.5 million, while the nine nonprofits will split $2.7 million. Each organization will receive $300,000.
Another approximately $1.3 million will go to the Price Family Foundation, which will use the money to provide grants to other Bronx nonprofits.
Reach Marina Samuel at msamuel@schnepsmedia.com. For more coverage, subscribe to our newsletter and follow us on Twitter, Facebook and Instagram!
